SSM receives $600,000 Through the Building Faster Fund

The Ontario government is rewarding the City of Sault Ste. Marie with $600,000 through the third round of the Building Faster Fund, which provides funding to municipalities that achieve at least 80 per cent of their provincially designated housing targets. In 2025, Sault Ste. Marie broke ground on 302 new homes, exceeding its annual target by 101 per cent. The funding will help the City of Sault Ste. Marie build more homes and community infrastructure while advancing the province’s plan to protect Ontario by investing in projects that support economic growth and keep workers on the job.

“Our government is working relentlessly to unlock housing opportunities across every corner of the province, and we appreciate the partnership of cities like Sault Ste. Marie,” said Rob Flack, Minister of Municipal Affairs and Housing. “Together, we will continue to build more homes, smarter and faster, so more families can achieve their dreams of homeownership.”

Announced in August 2023, the Building Faster Fund is a three-year, up to $1.2 billion program that helps municipalities build more homes faster. The fund rewards municipalities that make significant progress toward their housing targets by providing funding for the infrastructure needed to support new housing and growing communities.

“Building more homes requires a practical, responsive approach from municipalities, and Sault Ste. Marie continues to show strong results,” said Matthew Shoemaker, Mayor of Sault Ste. Marie. “Being one of only a handful of municipalities to exceed its housing target for the third consecutive year reflects sustained progress and a shared commitment to getting more homes built. We are grateful for the support of the Government of Ontario, which continues to help make that progress possible.”

The Ontario government is also helping to speed up the construction of new homes and infrastructure by streamlining development processes and reducing unnecessary costs, most recently through the Building Homes and Improving Transportation Infrastructure Act, 2026 and the HST Relief Implementation Act (Residential Property Rebates), 2026.

As part of the up to $8.8 billion Canada-Ontario Partnership to Build, Ontario has introduced the Development Charge Reduction Program, which will provide funding for housing-enabling infrastructure projects over 10 years. Funding will be prioritized for municipalities that reduce and maintain reductions on development charges.

The agreement also supports the removal of the HST on new homes from April 1, 2026, to March 31, 2027, which will save homebuyers up to $130,000 off the cost of a new home. Collectively, these measures help to enhance affordability, support builders as they get shovels in the ground on new homes and keep workers on the job.